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New FASB ASU Provides Guidance on Permissible Benchmark Interest Rates for Hedge Accounting

October 31, 2018

The Financial Accounting Standards Board (FASB) has issued Accounting Standards Codification (ASC) Topic 815, Derivatives and Hedging, which provides guidance on the risks associated with financial assets or liabilities that are permitted to be hedged. One of those is interest rate risk, which is the risk of changes in fair values or cash flows of existing or forecasted issuances or purchases of fixed-rate financial assets or liabilities attributable to the designated benchmark interest rate. Click here (PDF) for more information.